Author Topic: TPLP---TPL Properties Limited  (Read 886 times)

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Online MZ

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TPLP---TPL Properties Limited
« Reply #-1 on: June 20, 2016, 04:41:02 PM »
All about TPL Properties Limited.

http://tpl-property.com

Pakinvestorsguide

TPLP---TPL Properties Limited
« Reply #-1 on: June 20, 2016, 04:41:02 PM »

Online MZ

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Re: TPLP---TPL Properties Limited
« on: June 20, 2016, 04:42:15 PM »
 
TPL Properties Limited (“TPLP”) has mandated Arif Habib Limited as Lead Manager and Arranger and AKD Securities Limited as Co-Arranger for its Initial Public Offering (“IPO”) of 55.75 million Ordinary Shares (26.8% of post-IPO Paid-up Capital) at a Floor Price of PKR 12.50/- per share. The entire issue is being offered through Book Building only and shall take place from June 22, 2016 to June 23, 2016 (9:00 am to 2:00 pm). There will be no subsequent general public offer. The registration of investors will take place from June 17, 2016 to June 22, 2016 between 9:00 am to 2:00 pm and shall also continue on June 23, 2016 from 9:00 am to 12:00 am. The total size of the IPO at the Floor Price of PKR 12.50/- per share amounts to PKR 696.87 million approx. The Prospectus and relevant set of Bidding Forms can be downloaded from http://tpl-property.com.
 
TPL Properties Limited is the real estate arm of TPL Group. TPLP was incorporated with an aim to invest, purchase, develop, build, rent and sell real estate. The Company has successfully completed the construction of Centrepoint and the building is fully occupied. This is Company’s first real estate project, located opposite KPT Interchange on Shaheed-e-Millat Expressway, Karachi.
 
Centrepoint is designed exclusively as a modern office complex with the latest in-house infrastructure facilities ideal for large local and multinational corporations. The 28 storeyed building offers state of the art facilities including built in IT infrastructure, international standards of security and fire safety, 9 floors of dedicated parking, and in-house independent power generation. Additionally, Centrepoint will feature a health club, swimming pool, coffee bar and luxurious reception spaces making it an ideal rental choice for high end corporations.
 
The purpose of the IPO is primarily to restructure the balance sheet of TPL Properties Limited in order to reduce external debt and strengthening financial position of the Company which will enable the shareholders to fully benefit from long term capital appreciation of the Centrepoint.
 
The Company has long term tenancy agreements with various renowned companies including Silk Bank, Philip Morris Pakistan Limited, TRG Pakistan Limited, Gul Ahmed Textile etc. This ensures a steady stream of predictable cash flow.
 
Pakistan’s Real Estate sector is considered as a safe haven against inflation and rupee depreciation. The sector outlook for next 5-10 years is positive as many opportunities lie for commercial and residential real estate developers to initiate and execute profitable ventures.

Offline momo

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Re: TPLP---TPL Properties Limited
« Reply #1 on: June 21, 2016, 08:59:57 AM »

TPL Properties Limited (“TPLP”) has mandated Arif Habib Limited as Lead Manager and Arranger and AKD Securities Limited as Co-Arranger for its Initial Public Offering (“IPO”) of 55.75 million Ordinary Shares (26.8% of post-IPO Paid-up Capital) at a Floor Price of PKR 12.50/- per share. The entire issue is being offered through Book Building only and shall take place from June 22, 2016 to June 23, 2016 (9:00 am to 2:00 pm). There will be no subsequent general public offer. The registration of investors will take place from June 17, 2016 to June 22, 2016 between 9:00 am to 2:00 pm and shall also continue on June 23, 2016 from 9:00 am to 12:00 am. The total size of the IPO at the Floor Price of PKR 12.50/- per share amounts to PKR 696.87 million approx. The Prospectus and relevant set of Bidding Forms can be downloaded from http://tpl-property.com.
 
TPL Properties Limited is the real estate arm of TPL Group. TPLP was incorporated with an aim to invest, purchase, develop, build, rent and sell real estate. The Company has successfully completed the construction of Centrepoint and the building is fully occupied. This is Company’s first real estate project, located opposite KPT Interchange on Shaheed-e-Millat Expressway, Karachi.
 
Centrepoint is designed exclusively as a modern office complex with the latest in-house infrastructure facilities ideal for large local and multinational corporations. The 28 storeyed building offers state of the art facilities including built in IT infrastructure, international standards of security and fire safety, 9 floors of dedicated parking, and in-house independent power generation. Additionally, Centrepoint will feature a health club, swimming pool, coffee bar and luxurious reception spaces making it an ideal rental choice for high end corporations.
 
The purpose of the IPO is primarily to restructure the balance sheet of TPL Properties Limited in order to reduce external debt and strengthening financial position of the Company which will enable the shareholders to fully benefit from long term capital appreciation of the Centrepoint.
 
The Company has long term tenancy agreements with various renowned companies including Silk Bank, Philip Morris Pakistan Limited, TRG Pakistan Limited, Gul Ahmed Textile etc. This ensures a steady stream of predictable cash flow.
 
Pakistan’s Real Estate sector is considered as a safe haven against inflation and rupee depreciation. The sector outlook for next 5-10 years is positive as many opportunities lie for commercial and residential real estate developers to initiate and execute profitable ventures.

Completely useless and utterly horrible IPO. Not recommended to bid in it at all. And on top of that, they don't intend to pay any dividends till FY2025.

Offline sAr

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Re: TPLP---TPL Properties Limited
« Reply #2 on: June 21, 2016, 09:26:31 AM »
Flop Company. They are not operating as REIT. Secondly, they are heavily under Debt. They are doing IPO to make Debt Obligations.
As per prospectus

Minimum Bid Size:           100,000 shares (bids can only be placed in the multiples of 100,000 shares)
Trading Lot:                        Shares would trade in lot-size of 100,000 shares on PSX post listing

Hence, not for General Public, but for HNWI/Institutional Investors

My View: "Exercise Caution"

Offline momo

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Re: TPLP---TPL Properties Limited
« Reply #3 on: June 21, 2016, 09:28:36 AM »
Flop Company. They are not operating as REIT. Secondly, they are heavily under Debt. They are doing IPO to make Debt Obligations.
As per prospectus

Minimum Bid Size:           100,000 shares (bids can only be placed in the multiples of 100,000 shares)
Trading Lot:                        Shares would trade in lot-size of 100,000 shares on PSX post listing

Hence, not for General Public, but for HNWI/Institutional Investors

My View: "Exercise Caution"

Agreed. They should've converted it into a REIT if they were sincere about paying out dividends and benefiting all shareholders.

Offline Afzal040968

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Re: TPLP---TPL Properties Limited
« Reply #4 on: June 21, 2016, 09:43:30 AM »
Flop Company. They are not operating as REIT. Secondly, they are heavily under Debt. They are doing IPO to make Debt Obligations.
As per prospectus

Minimum Bid Size:           100,000 shares (bids can only be placed in the multiples of 100,000 shares)
Trading Lot:                        Shares would trade in lot-size of 100,000 shares on PSX post listing

Hence, not for General Public, but for HNWI/Institutional Investors

My View: "Exercise Caution"

Agreed. They should've converted it into a REIT if they were sincere about paying out dividends and benefiting all shareholders.

As far as I recall no issue has been undersubscribed in the history of our Book Building started way back in the year 2009-2010. Let alone all issues had seen the strike price arriving above their floor price. Now:

1: Please correct me if I am wrong
2: Will TPLP book building would set a new record of either being undersubscribed or the strike price not exceeding the floor price of Rs. 12.50 ?
 

Offline 007

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Re: TPLP---TPL Properties Limited
« Reply #5 on: July 07, 2016, 02:20:11 PM »


flop ipo

Online MZ

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